Tilray (NASDAQ:TLRY) Trading Up 1.7% – Should You Buy?

Tilray Inc (NASDAQ:TLRY) shot up 1.7% during mid-day trading on Monday . The stock traded as high as $0.64 and last traded at $0.62. 12,951,935 shares were traded during mid-day trading, a decline of 71% from the average session volume of 44,829,910 shares. The stock had previously closed at $0.61.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their target price on shares of Tilray from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Tilray presently has an average rating of “Hold” and a consensus price target of $2.70.

Tilray Stock Performance

The company has a market cap of $633.57 million, a P/E ratio of -2.25 and a beta of 2.13. The company’s 50-day moving average is $0.95 and its two-hundred day moving average is $1.32. The company has a quick ratio of 1.58, a current ratio of 2.54 and a debt-to-equity ratio of 0.10.

Tilray (NASDAQ:TLRY) last posted its quarterly earnings results on Friday, January 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company had revenue of $210.90 million for the quarter, compared to the consensus estimate of $216.34 million. Tilray had a negative net margin of 30.95% and a negative return on equity of 4.40%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts predict that Tilray Inc will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Tilray

Several institutional investors have recently added to or reduced their stakes in TLRY. Bank of Montreal Can boosted its position in Tilray by 0.3% during the third quarter. Bank of Montreal Can now owns 2,176,506 shares of the company’s stock worth $3,787,000 after purchasing an additional 7,406 shares during the period. Newman Dignan & Sheerar Inc. lifted its holdings in shares of Tilray by 61.9% in the fourth quarter. Newman Dignan & Sheerar Inc. now owns 26,150 shares of the company’s stock worth $35,000 after buying an additional 10,000 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Tilray by 55.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 31,875 shares of the company’s stock worth $42,000 after buying an additional 11,325 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Tilray by 92.1% in the fourth quarter. NewEdge Advisors LLC now owns 27,406 shares of the company’s stock worth $36,000 after buying an additional 13,136 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of Tilray by 59.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 37,009 shares of the company’s stock worth $49,000 after buying an additional 13,786 shares in the last quarter. Institutional investors own 9.35% of the company’s stock.

About Tilray

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Canada.